Morton Community Bank Has $4.98 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Key Points

• Morton Community Bank reduced its stake in Philip Morris International by 5.0%, holding 31,364 shares worth approximately $4,978,000 by the end of the first quarter.
• Multiple institutional investors, including Ardent Capital Management Inc. and Savvy Advisors Inc., have adjusted their positions in Philip Morris, with some increasing their holdings significantly.
• Recent analyst reports show a consensus rating of "Moderate Buy" for Philip Morris International, with price targets ranging from $182.00 to $220.00.

Morton Community Bank cut its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 5.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,364 shares of the company's stock after selling 1,665 shares during the quarter. Philip Morris International comprises 1.3% of Morton Community Bank's investment portfolio, making the stock its 16th largest holding. Morton Community Bank's holdings in Philip Morris International were worth $4,978,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Mackenzie Financial Corp increased its position in shares of Philip Morris International by 7.3% during the first quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company's stock valued at $568,873,000 after purchasing an additional 242,799 shares during the period. 49 Wealth Management LLC increased its position in shares of Philip Morris International by 79.0% during the first quarter. 49 Wealth Management LLC now owns 5,334 shares of the company's stock valued at $847,000 after purchasing an additional 2,354 shares during the period. Cortland Associates Inc. MO increased its position in shares of Philip Morris International by 704.0% during the first quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company's stock valued at $22,690,000 after purchasing an additional 125,171 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Philip Morris International by 24.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock valued at $69,695,000 after purchasing an additional 87,631 shares during the period. Finally, SpringVest Wealth Management LLC bought a new stake in shares of Philip Morris International during the first quarter valued at approximately $253,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Up 1.2%

NYSE:PM traded up $2.06 during trading hours on Friday, reaching $170.23. The company had a trading volume of 3,774,105 shares, compared to its average volume of 7,011,663. The firm has a market capitalization of $264.98 billion, a PE ratio of 32.36, a PEG ratio of 2.48 and a beta of 0.48. The stock has a 50-day moving average of $176.29 and a two-hundred day moving average of $163.44. Philip Morris International Inc. has a one year low of $115.62 and a one year high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.86 by $0.05. The company had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. The business's revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.59 earnings per share. As a group, sell-side analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a yield of 3.2%. Philip Morris International's payout ratio is currently 102.66%.

Analyst Ratings Changes

A number of analysts have recently issued reports on PM shares. Barclays lowered their price objective on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price objective on Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Wall Street Zen cut Philip Morris International from a "buy" rating to a "hold" rating in a research report on Saturday. Morgan Stanley reiterated an "overweight" rating and issued a $182.00 price target (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Finally, KGI Securities started coverage on Philip Morris International in a research report on Monday, August 4th. They issued an "outperform" rating on the stock. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $186.27.

Philip Morris International Company Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.